Based on historical performance, the transaction is free cash flow accretive and transfers the associated assets and liabilities to Klesch Group.
«Gelsenkirchen plays an important role in supplying western Germany with fuels and petrochemicals. With its refining experience and established presence in Germany, Klesch Group is well placed to take Gelsenkirchen into its next chapter. bp will continue to support customers in Germany through its businesses, including Aral», said Patrick Wendeler, head of country for Germany at bp.
bp retains a refining portfolio of five refineries serving key customers and markets across its downstream business, including Cherry Point and Whiting in the United States, and Castellón, Lingen and Rotterdam in Europe.
About Klesch Group
- Klesch is a leading independent refiner focused on delivering operational excellence;
- established in 1990;
- the company’s asset portfolio includes the Heide Refinery in Germany, acquired from Shell in 2010, and the Kalundborg Refinery in Denmark, acquired from Equinor in 2022;
- Klesch plays a strategically important role in supporting the security of critical fuel supply and transportation energy needs across Germany and Denmark;
- the company operates to the highest standards of safety, environmental stewardship, and regulatory compliance within some of Europe’s most highly regulated jurisdictions;
- the Klesch business is focused exclusively on refining.
